German investment fund DEGI has paid Norwich Union just under £20m for the 115-year leasehold interest in Morley House at 26-30 Holborn Viaduct, EC1. The deal refelcts a yield of between 8.75 and 9%.
The 4,900 sq m (52,759 sq ft) is let to Coopers & Lybrand until June 2012 on a passing rent of £355 per sq m (£33 per sq ft). Crown Estate Commissioners owns the freehold.
DEGI was represented by Jones Lang Wootton.
EGi News 26/03/97
